The Department of Energy (DOE) said that around 50 local and international oil and gas exploration and production companies attended and showed interest inparticipating in the bidding for eight coal, petroleum and native hydrogen exploration areas for development in the Philippines and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
DOE, alongside the BARMM-Ministry of Environment, Natural Resources and Energy, jointly unveiled four pre-determined areas (PDAs) for coal and petroleum exploration in the region yesterday.
DOE said the only PDA for coal exploration in BARMM is located in Kapai and Tagoloan, Lanao del Sur covering a total area of 14,856 hectares while the three remaining PDAs are for petroleum exploration.
For areas outside BARMM, DOE offered two PDAs located in Northwest Palawan and Southern Cebu for the development and production of petroleum.
The agency also opened two PDAs for native hydrogen exploration adjacent to the northern portion of the Zambales Ophiolite Complex and the western portion of Central Luzon.
DOE Undersecretary Alessandro Sales said they will select applicants which can demonstrate a good understanding of the possible resource potential of these areas and will carry out a work program that will efficiently map and test them.
Sales said applicants must also have experience from exploration and field development in similar areas and the necessary risk capital and financial capability to explore and develop.
DOE added companies may submit their petroleum service contract application within the prescribed 180-day application period while coal operating contract applications may be submitted within the 60-day application period following the publication of the PDAs for offer yesterday.
“We are very pleased that known oil and gas exploration and production players in Asia, North America and Europe, including local players, have come to this event and displayed a keen interest in evaluating our country’s petroleum potential,” Sales said.
DOE said that among companies present in the presentation of offered PDAs include Baseline Unlimited Inc.; PhiloDrill Corp.; Helios Aragon PTE Ltd.; V1 Countrywide Realty Corp.; Asia Axis Inc.; PXP Energy Corp.; Western Sulu Gulf Oil Corp.; Energy China Phils Branch Office; ExxonMobil; Prime Energy Minsupala Energy and Mineral Resource Development Corp.; Oriental Petroleum and Minerals Corp.; Freedom Renewable Energy Corp.; and Triangle Energy.
